Daily Market Update 11/4/16

Mortgage rates were little changed Friday following the release of key employment data for October.  The economy added 161,000 jobs last month, a bit less than expected, but upward revisions to previous months’ figures more than offset the shortfall.  The Unemployment Rate dipped to 4.9%, in line with forecast.  Average hourly earnings rose 0.4%, beating expectations, and were 2.8% higher than one year ago, the largest annual increase since 2009.  Separately, the Trade Deficit was smaller than expected.  No other key data will be released today.

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